Instructions : Choose the best multiple choice answer and explain why you chose
ID: 2564277 • Letter: I
Question
Instructions : Choose the best multiple choice answer and explain why you chose the answer. MUST provide 2-3 sentence brief explanation and show all work. All sources must be noted.
____ 32. One of the tax advantages of being self-employed (rather than being an employee) is:
a.
The self-employment tax is lower than the Social Security tax.
b.
The cutback adjustment does not apply.
c.
Job-related expenses are deductions for AGI.
d.
The actual cost method for deducting the business use of an automobile can be selected.
e.
A deduction for an office in the home is available.
a.
The self-employment tax is lower than the Social Security tax.
b.
The cutback adjustment does not apply.
c.
Job-related expenses are deductions for AGI.
d.
The actual cost method for deducting the business use of an automobile can be selected.
e.
A deduction for an office in the home is available.
Explanation / Answer
Job-related expenses are deductions for AGI. Option C is correct